Vestis (NYSE:VSTS) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Vestis (NYSE:VSTS) had its target price boosted by JPMorgan Chase & Co. from $15.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other brokerages have also recently weighed in on VSTS. Robert W. Baird cut Vestis from an “outperform” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research note on Thursday, August 8th. Barclays boosted their price target on shares of Vestis from $10.00 to $13.00 and gave the company an “underweight” rating in a report on Friday. The Goldman Sachs Group raised their price objective on shares of Vestis from $12.50 to $13.80 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Baird R W downgraded shares of Vestis from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Vestis has a consensus rating of “Hold” and a consensus price target of $17.43.

Vestis Price Performance

Shares of NYSE VSTS opened at $16.31 on Friday. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37. The company has a current ratio of 1.73, a quick ratio of 1.36 and a debt-to-equity ratio of 1.40. The firm has a 50-day moving average of $14.60 and a two-hundred day moving average of $13.35. The company has a market capitalization of $2.14 billion and a price-to-earnings ratio of 100.13.

Vestis Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 13th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 0.86%. The ex-dividend date is Friday, December 13th. Vestis’s dividend payout ratio is currently 87.51%.

Institutional Trading of Vestis

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its position in shares of Vestis by 223.0% during the second quarter. AQR Capital Management LLC now owns 3,753,889 shares of the company’s stock worth $45,197,000 after purchasing an additional 2,591,593 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Vestis by 111.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,631,652 shares of the company’s stock valued at $39,212,000 after buying an additional 1,384,413 shares during the last quarter. TOMS Capital Investment Management LP increased its stake in shares of Vestis by 22.7% in the 3rd quarter. TOMS Capital Investment Management LP now owns 2,330,155 shares of the company’s stock valued at $34,719,000 after buying an additional 430,555 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Vestis by 9.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,156,811 shares of the company’s stock worth $32,136,000 after acquiring an additional 192,525 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Vestis by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,541,710 shares of the company’s stock valued at $18,854,000 after acquiring an additional 8,997 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Company Profile

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.